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Hayek's The Road to Serfdom Revisited: Government Failure in the Argument against Socialism

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Listed:
  • Peter J. Boettke

    (New York University)

Abstract

Karl Marx perhaps the most astute student of economic doctrine, once made the famous and apposite observation that in substantial passages of "The Wealth of Nations" Adam Smith "was very copiously infected with the conceptions of the Physiocrats." In parallel fashion this paper agues that in substantial portions of "The General Theory," J. M. Keynes was a mere Gesellist, particularly but not uniquely, in his expressions of political philosophy vis-a-vis the relationship between state and economy.

Suggested Citation

  • Peter J. Boettke, 1995. "Hayek's The Road to Serfdom Revisited: Government Failure in the Argument against Socialism," Eastern Economic Journal, Eastern Economic Association, vol. 21(1), pages 7-26, Winter.
    • Handle: RePEc:eej:eeconj:v:21:y:1995:i:1:p:7-26
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume21/V21N1P7_26.pdf
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    Cited by:

    1. Graham Brownlow & Esmond Birnie, 2018. "Rebalancing and Regional Economic Performance: Northern Ireland in A Nordic Mirror," Economic Affairs, Wiley Blackwell, vol. 38(1), pages 58-73, February.
    2. Shruti Rajagopalan, 2015. "Incompatible institutions: socialism versus constitutionalism in India," Constitutional Political Economy, Springer, vol. 26(3), pages 328-355, September.
    3. Peter Kurrild-Klitgaard, 2004. "The Political Economy of the Dynamic Nature of Government Intervention: An Introduction to Potentials and Problems," Advances in Austrian Economics, in: The Dynamics of Intervention: Regulation and Redistribution in the Mixed Economy, pages 3-20, Emerald Group Publishing Limited.
    4. Anthony Evans, 2009. "Constitutional moments in Eastern Europe and subjectivist political economy," Constitutional Political Economy, Springer, vol. 20(2), pages 118-138, June.
    5. Bruce Caldwell, 2011. "Ten (Mostly) Austrian Insights for These Trying Times," CAE Working Papers 90, Aix-Marseille Université, CERGAM.
    6. Anthony Evans, 2014. "A subjectivist’s solution to the limits of public choice," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(1), pages 23-44, March.
    7. Michael Wohlgemuth, 2002. "Democracy and Opinion Falsification: Towards a New Austrian Political Economy," Constitutional Political Economy, Springer, vol. 13(3), pages 223-246, September.
    8. Karen Vaughn, 1999. "Hayek's Implicit Economics: Rules and the Problem of Order," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 11(1), pages 129-144, January.
    9. Vlad Tarko & Andrew Farrant, 2019. "The efficiency of regulatory arbitrage," Public Choice, Springer, vol. 181(1), pages 141-166, October.

    More about this item

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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